Sina Tech, 1/18/10
Chinese search company Baidu (Nasdaq: BIDU) has announced that CTO Li Yinan will resign. According to industry sources, Li will join Beijing Wuxian Xunqi, operator of China Mobile's (NYSE: CHL; 0941.HK) 12580 information service as CEO.
Editor's Note: In late December, Gong Yu, COO and president of China Mobile's (NYSE: CHL; 0941.HK) 12580 information service, left China Mobile to become the CEO of Baidu's new, independent online video company. For more background on this topic, please see "Rumor: China Mobile's 12580 Chairman Leaves for Baidu", MD 12/31/09 issue, and "Baidu Announces New Online Video Firm", MD 1/06/10 issue.